Tokyo stocks edge down after long weekend

Shanghai markets
Shanghai markets
owngarden/getty

Tokyo stocks closed marginally lower Wednesday after a long weekend and as worries grew of fresh spikes in coronavirus cases in Europe and the United States.

The benchmark Nikkei 225 index inched down 0.06%, or 13.81 points, to end at 23 346.49, while the broader Topix index dipped 0.13%, or 2.17 points, to 1 644.25.

"The market reacted negatively to the spread of new coronavirus infections in Europe and the US and uncertainty over additional US economic stimulus," Okasan Online Securities said in a note.

New Covid-19 cases worldwide soared last week to a new seven-day high of almost two million, according to the latest WHO statistics.

Many nations in Europe have eased restrictions after largely overcoming initial outbreaks, but the resurgence of the virus has forced them to tighten curbs again.

The United States is still the worst-hit country with more than 200 000 virus deaths.

The dollar fetched ¥105.08 in Asian trade, against ¥104.92 in New York late Tuesday and ¥104.83 during the last session in Tokyo late Friday.

In Tokyo trading, SoftBank Group dropped 2.59% to ¥6 375, while Sony fell 1.42% to ¥8 204.

Fujifilm Holdings jumped 4.88% to ¥5 283 as the company said it will apply for its anti-influenza drug Avigan to be approved for treating coronavirus patients after trials showed it can shorten recovery time.

Honda lost 2.81% to ¥2 539.5, while Nissan dropped 3.15% to ¥372. Toyota advanced 0.61% to ¥7 081.

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